Is this market setting up for another selloff… or a surprise reversal? Mike Arnold of Path Trading Partners returns to the Futures Edge for his monthly segment to break down the critical technical levels driving the S&amp;P 500, Nasdaq, Russell, crude oil, gold, Bitcoin, Amazon, Google, and more. If you trade futures, stocks, ETFs, or options, this is the chart-focused analysis you need before making your next move. He explains why the market is still in “choppy bearish mode,” what needs to happen to flip bullish, and the exact support and resistance levels traders should be watching right now. The conversation also digs into how to trade around major headlines, why cash is a position, and why forcing trades in uncertain markets can be the fastest way to lose money. Timestamps: 00:00 Introduction to Market Analysis and Key Participants 00:53 Overview of Recent Market Support and Resistance Levels 02:07 Identifying Overhead Resistance and Support Zones 02:59 When to Enter Short Positions: Key Parameters 04:06 Understanding Choppy Bearish and Bullish Modes 05:47 Market Bias and the Importance of High-Probability Setups 07:28 Trade Frequency and Capital Preservation Strategies 10:20 Market Breadth Indicators: Stocks Above 50-Day Moving Average 11:51 NASDAQ Analysis: Double Top Patterns and Support Levels 14:23 Adding to Short Positions: Key Break Levels 18:27 Russell 2000: Resistance, Support, and Trend Indicators 21:59 Gold and Silver: Technical Levels and Market Outlook 23:51 Bitcoin and Cryptocurrency Market Dynamics 26:48 Crude Oil: Technical Patterns and Geopolitical Impact 30:05 Market Reactions to Binary Events and News 35:42 Largest Holdings and Stock Analysis: Google and Amazon 38:58 Trading Strategies and System Testing Principles 41:10 Closing Remarks and Market Outlook Newsletter: https://unfilteredinvestor.com/ Shopify Podcast: open.spotify.com/show/60zQnUdSfZC43ZNoUJjTVp Stay Connected With Us. Twitter (X) [Bob Iaccino]: https://x.com/bob_iaccino Twitter(X) [jim Iuorio]: https://x.com/jimiuorio LinkedIn [Bob Iaccino]: https://www.linkedin.com/in/bob-iaccino/ LinkedIn [James Iuorio]: https://www.linkedin.com/in/james-iuorio/

Before You Trade This Market, Watch This: Critical S&P & Nasdaq Warning

Futures Edge Show: Finance Unfiltered with Jim Iuorio and Bob Iaccino

# Full Transcript

**Podcast:** Futures Edge Show: Finance Unfiltered with Jim Iuorio and Bob Iaccino

## Transcript

Welcome to the Futures Edge. I am Jim Iuorio, that's Bob Iaccino, that is Chief Strategist for PATH Trading Partners and one of the key members of UnfilteredInvestor.com, which happens to be the three of us who comprise UnfilteredInvestor.com. Special thanks to our other sponsors. We complain about the food source being taken over by big conglomerates. There is something we can do, and that's to patronize small independent operators like Marco at Independence Arc Farms. Also, American Gold Exchange, Dana Samuelson.

I think it's probably best to own physical gold and silver when you have a government that spends like drunken sailors. Today, we do technical analysis. So by the way, so people who are watching, I know sometimes it gets a little complicated because Mike's system isn't easy. It just works. So sometimes we have to pay specific attention. I get a pen and paper out and I take notes of the levels he says. So please do. Mike, what chart do we have up there first? S&P. S&P.

That's what we're going to start with, right? Start at the beginning. So what do you see? Very beginning. Well, over the past couple of weeks, we've broken the 200 simple moving average, which is now resistance. We broke major support levels and we got all the way down to below 6,400. Before last week, we had a little bounce by pattern, which is still intact.

I'll give you the key levels right now. Key support is about 6510. Okay. We have a lot of overhead resistance. I'm in choppy bearish mode. Right. Why am I in choppy bearish mode? Because there's a lot of overhead resistance. We have the 200 overhead. We have the 50 EMA above that. And we're in the rollover zone between the 50% and the 62.5% harmonic.

And on the weekly, if I flip over to the weekly chart, we're against the weekly rotation zone. And the top of the weekly rotation zone is roughly in the same area as the daily 50 EMA. So where do we sell it? What parameters have to be met before we add the shorts? Either I'm looking for any topping pattern that we form up in this area.

I'd say roughly between 6650 and 6785. Any topping pattern in there, I will look for sell patterns. Like if we get a double top, if we get divergence patterns, or if we break down below 6565,

it will be at least to start going with some momentum to the short side with the targets of 6505. And then the critical level to flip the short-term probabilities is a close below around 6468. That number might climb a little if we go to make some new highs, but 6468 to be conservative is the probability shift for the downside.

Now, again, everything's trading off of war headlines and everything else. We have the CPI, the PCE numbers at the end of the week. You know, depending on everything else, if there's a ceasefire or the war ends, to the upside, the only thing that shifts the probabilities, if we don't go to make new lows, ...

Before You Trade This Market, Watch This: Critical S&P & Nasdaq Warning

Transcript

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edge in conversations you're not hearing.

Before You Trade This Market, Watch This: Critical S&P & Nasdaq Warning

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.